There is established the Educators for Maine Program to provide financial assistance for postsecondary education to undergraduate students and students pursuing postbaccalaureate certification who demonstrate academic achievement and an interest in pursuing a career in teaching, speech pathology or child care in this State. The chief executive officer shall administer the program and shall establish pursuant to rules of the authority the rates of interest or fees to be charged.   [PL 2003, c. 427, §3 (AMD).]

Under the program, the authority may annually award a certain number of loan repayments to selected educators in underserved geographic areas as funds permit. A selected loan repayment recipient must enter into a loan repayment agreement with the authority and may receive payment from the authority on the recipient's outstanding student debt for each year of service as long as the recipient teaches in an underserved geographic area.   [PL 2019, c. 303, §4 (NEW).]